Vietnam Morning News For August 9

PM urges turning Vietnam into leading timber exporter
Prime Minister Nguyen Xuan Phuc has set the task for the forestry sector to achieve double digit export turnover as of 2019, striving to turn Vietnam into a leading centre of the production and export of timber and forest products, with prestigious brands recognised by the global market.
— Nhan Dan Online

Vietnam: More organic products needed to boost agro exports to EU
Experts have recommended that Vietnamese firms develop organic products for export to the EU, considering it a measure to boost the shipment of farm produce to this demanding market.
— Fresh Plaza

Vietnam’s New Cybersecurity Law Will Hurt Economic Growth
The passage of a restrictive cybersecurity law by Vietnam’s National Assembly is a giant step back—one that comes at the expense of Vietnam’s small and medium-sized businesses.
— The National Interest

Vietnam’s airport infrastructure and service quality need improvement to meet growing demand
As Vietnam is forecast to become the world’s fifth fastest-growing aviation market in terms of international passengers and cargo, measures are needed to resolve infrastructure bottlenecks and improve service quality in order to meet the development needs.
— Nhan Dan Online

US launchs anti-dumping probe into Vietnam’s steel
US producers claim that the Vietnamese cold rolled steel exported to the US is the same class or type as these that are being slapped with tariffs from South Korea.
— The Hanoi Times

Vietnam deputy police minister sacked amid corruption crackdown
Vietnamese Prime Minister Nguyen Xuan Phuc on Wednesday fired the deputy police minister, the highest ranking police official to be removed in a corruption crackdown in the Communist-ruled country, the government said.
— Business Insider

Domestic firms remain wary of franchises
Most Vietnamese enterprises that have franchised their brands to other countries have done so only when these opportunities were offered by foreign firms, instead of mapping out specific strategies on their own, Nguyen Phi Van, chairwoman of Retail & Franchise Asia, told local media on August 7.
— VietNamNet Bridge

Central bank makes net withdrawal of $2.55 billion
Liquidity in the banking system has improved in the past week, pushing the State Bank of Việt Nam to make a net withdrawal of VNĐ60 trillion (US$2.55 billion).
— Viet Nam News

WB willing to support Vietnam in building e-government
World Bank (WB) Country Director to Vietnam, Ousmane Dione, has expressed his group’s willingness in supporting Vietnam in terms of resources and signing the framework for cooperation in building e-government.
— Nhan Dan Online

Proposal to raise emissions standards for cars
Vietnam Register, under the Ministry of Transport, has proposed raising the emission standards for cars to level 2 in order to minimise the increasing environmental pollution in the country.
— Viet Nam News

7,000 runners to compete at int’l marathon in Vietnam
Over 7,000 runners from 52 countries and regions have registered to attend the 2018 Manulife Da Nang International Marathon slated for Aug. 12 in Vietnam’s central city of Danang.
— Xinhua

US real estate firm makes surprise return to Vietnam
It left with no explanation, and there is no explanation about an unexpected return by MGM Resorts International to Vietnam.
— VnExpress

Ramp-up Underway for Vietnam’s New $9B Refinery
The biggest oil refinery in one of Asia’s fastest-growing economies is ramping up production and expects to run at full capacity in September after a 16-month delay due to faulty construction, its general director said.
— Rigzone

Online bidding helps save 9% of cost: experts
The savings accrued in online bidding is up to 9%, which is quite high compared to 6% of the cost savings if the bidding was conducted through the normal procedures, experts have said.
— Nhan Dan Online

Vietnam launches national chemical database
Vietnam’s department of chemicals, which comes under the Ministry of Industry and Trade (MOIT), has launched a national chemical database system.
— Chemical Watch

Vietnam investment: hectic M&A in 2018
There is massive interest among foreign investors at the moment. At the Savills Hanoi, Da Nang, and Ho Chi Minh offices, we see many investor groups every day, mostly new entrants, who are keen to explore opportunities.
— VnExpress

550 companies join VietFood & Beverage 2018
The 22nd International Exhibition on Food and Beverage (VietFood & Beverage 2018) and the 22nd International Exhibition on Food Processing, Packing Technology & Equipment (ProPack2018) opened at the Saigon Exhibition & Convention Centre (SECC) on August 8, attracting the participation of 550 firms from 20 countries and territories worldwide.
— Nhan Dan Online

Tackling credit shortage for SMEs
State authorities, financial institutions and enterprises must sit together to tackle credit shortages for small- and medium-sized enterprises.
— Viet Nam News

Vietnam state company listings lose steam under stricter rules
Vietnamese state-owned enterprises are making slow progress on opening up to private investment, with most having missed their deadline for listing on the local stock market — a key part of the government’s plan for modernizing the Southeast Asian country’s economy.
— Nikkei Asian Review (paywall)

Tien Giang to expand dragon fruit growing area
The Cuu Long (Mekong) Delta province of Tien Giang is expanding its specialised growing zone for dragon fruit, a fruit that has helped several local farmers grow rich.
— Bizhub

Ministry of Transport to soon finish National and ASEAN Single Window
Vietnam has officially implemented the National Single Window (NSW) and the ASEAN Single Window (ASW), which shows that Vietnam’s customs has taken the initiative in approaching modern technology to create a favorable business climate as well as modernize its management.
— The Hanoi Times

Transport ministry’s tentative regulation may cost firms trillions of VND
The Ministry of Transport (MOT) has submitted to the government a draft decree on taxi transport management, under which taxi firms will have to replace vehicle tracking devices (black boxes).
— VietNamNet Bridge

Illegal factories inspected
Dong Nai Province authorities have asked the Department of Natural Resources and Environment to send an inspection team to the Phuoc Tan industrial complex to examine its illegal construction of factories.
— Bizhub

Shortage of IT personnel in Japan: Opportunities for Vietnam
A shortage of IT personnel has prompted Japan to adopt measures to attract foreign talents in the field, which opens up opportunities for Vietnamese IT engineers and firms.
— VietNamNet Bridge

UOB celebrates official Vietnam subsidiary opening
United Overseas Bank Limited (UOB) has incorporated United Overseas Bank (Vietnam) Ltd, its fully-owned subsidiary in the country.
— The Borneo Post

Vietnam Veterans Honored For Their Service
A group of Vietnam War veterans was honored for their service on Wednesday.
— Denver

Vietnamese Democracy Advocate Held in Dark Cell, in Failing Health
Jailed Vietnamese democracy activist Nguyen Trung Truc, a member of the online Brotherhood for Democracy advocacy group, is suffering from failing eyesight after being held for long periods in a darkened cell, a fellow activist says.
— Radio Free Asia

Best places to visit in Vietnam during any season
Beautiful destinations in Vietnam have enthralled many travelers at any time during the year.
— VietNamNet Bridge

Feature photo Travis Hawk

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